Property values and taxes rise, state cuts funding

The San Marcos CISD board of trustees will hold a public meeting Monday at 5 p.m. on the district’s proposed tax rate and budget for the 2018-2019 school year.

The 2017-2018 tax rate for SMCISD was $1.4141 per $100 of property valuation, with $1.06 going to the district’s maintenance and operation (M&O) and $0.3541 going toward the district’s debt. The proposed 2018-2019 tax rate is the same, but property valuations have increased, meaning the SMCISD taxes levied on the average residence in the district will be about $200 higher. The total appraised value of all property in the district has increased from the previous tax year’s $6.45 billion to $7.2 billion; the total taxable value of all property in the district has risen from $5.3 billion to $5.75 billion.

As property values rise, the amount of state revenue per student continues declining. Last year, SMCISD taxpayers spent $9,755 per student while the state contributed $1,519 per student. This year, local revenue spent per student is anticipated to be $10,309, while the state’s share will be $1,029 per student.

The 2018-2019 budget for the school district will include a 7 percent increase in M&O over last year and a 15 percent increase in debt service, with a total increase of 8.45 percent.

After the public meeting, the board is slated to vote on the proposed budget. Afterwards, the board will convene in closed session to discuss principals for the Bonham Pre-K, Rodriguez Elementary and Travis Elementary campuses. The board could approve principals when it reconvenes in open session. The board is also slated to consider approval of a contract for the high school addition.